1. CEX Hot Coins
CEX Trading Volume Top 10 and 24-Hour Price Change:
BNB: -5.78%
BTC: -5.83%
ETH: -8.06%
SOL: -7.37%
DOGE: -12.19%
LTC: -7.04%
CREAM: -6.29%
FUN: -8.09%
XRP: -8.02%
TRUMP: -9.98%
24H Price Increase Ranking (Data Source: OKX):
CATI: 7.73%
HMSTR: 7.32%
ZENT: 6.82%
CSPR: 6.51%
MERL: 5.11%
NEIRO: 3.16%
SD: 3.16%
IP: 2.65%
MAJOR: 2.58%
PENGU: 2.47%
**2. Top 5 On-Chain Meme Coins (Data Source: **GMGN):
PIPE
YODA
SWEEPY
ewon
Cocoro
3. 24H Trending Coins
PWEASE: A meme coin inspired by the interaction between U.S. Vice President Vance and Ukrainian President Zelensky, the name is a humorous misspelling of "please," while also poking fun at Vice President Vance's perceived arrogance during the interaction with President Zelensky.
Headlines
Utah's Bitcoin Bill Passes State Senate, But Key Provisions Removed
Utah's Bitcoin bill has passed the state senate, but the core provision has been removed. This provision would have made Utah the first state in the U.S. to have its own Bitcoin reserve. The current bill, "HB230 Blockchain and Digital Innovation Amendment," now only provides basic custodial protections for Utah citizens, granting them rights to mine Bitcoin, run nodes, and participate in staking. On March 7, the bill passed with a vote of 19 in favor, 7 against, and 3 abstentions, and will next be sent to Utah Governor Spencer Cox for signing into law.
The reserve provision would have authorized the Utah State Treasurer to invest digital assets with a market value exceeding $500 billion (Bitcoin is currently the only digital asset meeting this standard) into five state accounts, with an investment cap of 5% of the asset's market value. This reserve provision passed in the second review but was removed in the third and final review. Subsequently, the Utah House of Representatives agreed to this amendment with a vote of 52 in favor, 19 against, and 4 abstentions.
Texas Establishes Bitcoin Reserve Fund, Creating the First State-Owned Crypto Fund in the U.S.
Texas has officially created a Bitcoin reserve fund, becoming the first government-managed cryptocurrency fund in U.S. history. The state senate recently passed the SB 21 bill, promoting the establishment of this fund. Lieutenant Governor Dan Patrick stated that this move is an important milestone in the development of cryptocurrency and aligns with President Trump's vision of making the U.S. a global leader in cryptocurrency, with Texas leading this transformation.
According to the plan, the reserve fund will hold Bitcoin (BTC) and other top cryptocurrencies with a market value exceeding $500 billion, and will be overseen and guided by a newly established advisory committee. This is not only a local strategic initiative but also signifies that national-level cryptocurrency policy is gradually taking shape, which may have a profound impact on the overall regulatory framework for digital assets in the U.S.
David Sacks Opposes Cryptocurrency Trading Tax
David Sacks has explicitly opposed the proposal to tax crypto trading to supplement the U.S. strategic Bitcoin reserve, arguing that such taxes often start as "moderate" but can easily expand to a broader scope, similar to how income tax initially targeted only a small group. Although the Trump administration proposed replacing federal income tax with import tariffs, Sacks warned that a crypto trading tax could burden users—current proposals suggest a 0.01% tax on each transaction, even covering transfers between the same user addresses, provoking strong criticism from investors. Research data indicates that eliminating income tax could save over $130,000 per person, but the White House did not clarify tax reform details at the recent crypto summit.
The International Monetary Fund (IMF) stated that El Salvador's current purchase of Bitcoin does not violate the terms of the previously signed loan agreement, but discussions on the matter will take place.
It is reported that El Salvador reached a $1.4 billion loan agreement with the IMF in January, which required the country to abandon Bitcoin adoption and revoke Bitcoin's legal tender status. However, El Salvador President Nayib Bukele stated that despite the IMF's demands, the El Salvador government will not stop purchasing Bitcoin. Bitcoin analyst John Dennehy revealed that the agreement between El Salvador and the IMF was passed on January 29 and published in the official gazette the next day, but the effective date is April 30.
Industry News
Cryptocurrency Exchange Kraken Plans to Go Public in Q1 2026
Cryptocurrency exchange Kraken plans to go public in the first quarter of 2026, with the IPO becoming possible as the Trump administration improves the regulatory environment in the U.S.
The company has been considering going public for years, but the process has been delayed due to regulatory challenges from the Securities and Exchange Commission (SEC). Earlier this month, Kraken announced that the SEC would withdraw its lawsuit against the company and would no longer pursue charges.
Based in San Francisco, Kraken achieved strong growth in 2024, with revenue exceeding $1.5 billion and adjusted profits of $380 million.
Kraken is currently the tenth largest cryptocurrency exchange in the world, founded in 2011, and has raised approximately $27 million in initial funding.
Robinhood Fined $26 Million by U.S. Regulators for Multiple Violations
The Financial Industry Regulatory Authority (FINRA) issued a press release stating that it has ordered Robinhood Financial to pay $3.75 million to customers and fined Robinhood Financial and Robinhood Securities $26 million for violating multiple FINRA rules, including failing to respond to warning signs of potential misconduct. In the settlement agreement, both companies accepted FINRA's findings but neither admitted nor denied the allegations and agreed to commit to rectifying the related issues.
Binance announced that during an investigation into a market maker from GoPlus Security (GPS), it found that the market maker was also responsible for market-making activities for the MyShell (SHELL) project.
To better protect Binance users, Binance has taken the following additional measures against the market maker's misconduct:
· The market maker has been delisted and banned from any further market-making activities on Binance
· The market maker's related earnings have been confiscated and will be used to compensate users of the GPS and SHELL projects (the detailed compensation plan will be determined and announced by the relevant project teams).
Project News
Three Directors of Avalanche Foundation Resign Collectively
Former directors of the Avalanche Foundation, Omer, posted on the X platform confirming that three directors, including himself, Aytunç Yildizli, and Vikram Nagrani, officially resigned from the board of the foundation and its subsidiaries earlier this week. Executive Director Aytunç Yildizli ceased to perform his duties on February 28, 2025, and since then the board has been in a wait-and-see mode, trying to find a way forward.
Omer stated, "During my and Aytunç Yildizli's and Vikram Nagrani's 18-month term, we pushed forward several important initiatives, including establishing the Avalanche Foundation brand image, releasing the first annual report, launching incentive programs such as infraBUIDL and infraBUIDL (AI), and developing the AiFRED project, as well as working to strengthen internal coordination within the ecosystem and shifting the growth strategy focus to new market development and strategic cooperation. This collective voluntary resignation decision is 'well-considered,' and we will continue to pay attention to the development of the Avalanche ecosystem in the future, wishing the Avalanche ecosystem and community all the best."
The Curve ecosystem's Omnipools protocol, Conic Finance, has announced the official cessation of operations, and the project will be fully terminated.
Conic Finance stated that due to the failure to resolve key issues in the new version, several core members left during this period, and the remaining team decided to terminate the project after evaluation. The official recommendation is for all liquidity providers (LPs) to withdraw their funds from Omnipools as soon as possible.
Additionally, the Conic treasury will return the remaining investment from Michael Egorov made in July 2023 to him and will cease all Votium bribery and incentive measures for the CNC/ETH Curve pool.
NFP Announces Token Burn Plan to Promote Ecological Sustainability
According to official news, the AI+Web3 creation platform NFPrompt has officially launched the NFP token burn plan today. The core goal of this burn plan is to reduce the circulating supply of tokens, enhance token scarcity, optimize the economic model, and strengthen long-term ecological value.
The team stated that this move is the first phase of ecological optimization, and subsequent DAO governance upgrades and application scenario expansions will be gradually disclosed to form a sustainable token economic cycle.
Investment and Financing
Galaxis Secures $5 Million Investment Commitment from Bolts Capital
Galaxis has announced that it has secured a $5 million investment commitment from Bolts Capital.
Previously, in May 2024, the Singapore Web3 platform Galaxis announced the completion of a $10 million financing round, with participation from Chainlink, Ethereum Name Service (ENS), Rarestone Capital, Taisu Ventures, and ENS co-founder Nick Johnson.
Regulatory Trends
U.S. Federal Agencies Must Report Bitcoin Holdings Directly to the Treasury
According to News.bitcoin, the White House clarified Trump's executive order, stating that in the future, Bitcoin confiscated by the U.S. government will no longer be sold but will be included in a new strategic Bitcoin reserve managed by the Treasury. Meanwhile, other digital assets will be categorized under a separate U.S. digital asset reserve to enhance regulation, optimize management, and promote the formulation of a long-term cryptocurrency strategy. According to the order, all federal agencies in the U.S. must report their Bitcoin holdings directly to the Treasury to enhance oversight and management transparency.
The U.S. Office of the Comptroller of the Currency (OCC) has issued a new letter announcing the withdrawal of the explanatory letter No. 1179 issued on November 18, 2021, and reaffirming that crypto asset custody, distributed ledger, and stablecoin activities discussed in the previous letter are permitted.
The OCC confirmed in the letter: "Federal banks and federal savings associations may engage in crypto asset custody, certain stablecoin activities, and participate in independent node verification networks." Acting Comptroller of the Currency Rodney E. Hood stated, "The OCC hopes that banks will adopt robust risk management controls similar to those in traditional banking to support new banking activities."
The agency also stated that it has withdrawn the requirement for institutions to implement restrictive controls before engaging in crypto activities.
Voices from the Industry
Bitwise: U.S. Strategic Bitcoin Reserve Could Trigger a Domino Effect, Leading to a Global "BTC Arms Race"
Bitwise Chief Investment Officer Matt Hougan stated in this week's investment memo that Trump has changed the rules of the game in the crypto market, and the establishment of a U.S. strategic crypto reserve will trigger a domino effect and be seen as the first shot in a global Bitcoin arms race. Countries like Honduras, Mexico, or Guatemala are watching the Bitcoin strategies of the U.S. and El Salvador, and they may all push for Bitcoin to become a significant global monetary asset. It is reported that Galaxy Digital predicts that at least five countries will establish their own Bitcoin strategic reserves by 2025.
Zhu Su stated that the establishment of the Strategic Bitcoin Reserve Act sends an important signal, as the biggest risk Bitcoin has faced over the years is being seen as a challenger to the dollar or as a protocol that facilitates "illegal" fund transfers. The Strategic Bitcoin Reserve positions Bitcoin as a digital bearer asset on par with gold, which will be recognized in the West and globally. The U.S. government does not need to accumulate millions of Bitcoins; it only needs to make Bitcoin a single coordination point for digital value storage.
Trader Eugene: Value Investment in DeFi Tokens Must Meet Three Key Criteria
Top trader Eugene Ng Ah Sio shared three key criteria for assessing value investment in DeFi tokens in a TG group. He believes that although the regulatory environment has improved in recent years, there is still a gap to feasible investment strategies.
He emphasized that first, the project team must prioritize the interests of token holders, at least as important as those of equity holders; second, the business model cannot rely entirely on cryptocurrency speculation cycles, avoiding valuation failures due to plummeting trading volumes in bear markets; finally, the team's execution capability is key, requiring technical barriers or excellent execution.
He stated that currently, only a few protocols meet these standards and that investments will be made at the appropriate time.
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